Management ChangeMay 11, 2026, 04:23 PM
First Business Financial Services Appoints David Seiler as President & CEO
AI Summary
First Business Financial Services, Inc. announced the appointment of David R. Seiler as its new President and Chief Executive Officer, effective May 3, 2026. Mr. Seiler, who previously served as President and Chief Operating Officer, will succeed Corey A. Chambas, whose retirement was announced in May 2025. Concurrently, Mr. Seiler was appointed to the Company's Board of Directors. His employment agreement includes an annual base salary of at least $600,000, eligibility for incentive plans, and a restricted stock unit grant of $215,000.
Key Highlights
- David R. Seiler appointed President and Chief Executive Officer, effective May 3, 2026.
- Mr. Seiler succeeds Corey A. Chambas, who announced his retirement in May 2025.
- Mr. Seiler was also appointed to the Company's Board of Directors as a Class III Director.
- His employment agreement includes an annual base salary of not less than $600,000.
- He is eligible for annual cash incentive and long-term incentive compensation programs.
- Mr. Seiler will receive a grant of restricted stock units with a target value of $215,000, vesting over five years.
- The employment agreement has an initial term of five years and automatically renews annually.